Swift Energy Technology Berhad IPO's Analysis

Swift Energy Technology Berhad

Swift Energy Technology Berhad is primarily engaged in the provision of industrial automation and power systems, focusing on process control, solar photovoltaic (Ex solar PV) solutions, and power distribution. The company primarily serves customers in the oil and gas sector, as well as industries related to grain products, edible oils, and food manufacturing. In addition to these core activities, Swift Energy supplies related products and services, including the distribution of power and industrial electrical products, along with technical services for process control and power distribution systems. Swift Energy was incorporated in 2022 and headquartered in Kuala Lumpur, Malaysia.

IPO Details
Market: ACE
Principal Adviser: M&A Securities Sdn Bhd
Issuing House: Tricor Investor & Issuing House (TIIH)
Shariah Status: SC (Yes)
Listing Price: 0.28
PE Ratio: 18.0-23.5
    PE (FYE): 23.53
    PE (FPE Annualised): 17.99
    PE (Hybrid): 17.99
MITI allocation?: Yes
Closing Date: 23-Dec-2024
Balloting Date: 27-Dec-2024
Listing Date: 08-Jan-2025
MITI Payment Date: 09-Dec-2024
Oversubscription rate: 58.09x
Average Analysts FV :
Mplus (0.53), Public Invest (0.36), TA (0.32), RHB (0.41), Rakuten (0.39), Kenanga (0.60)
iSaham IPO Score :
Market Cap: 280.22 M
Number of Shares: 1,000.80 M
IPO Allocations No. of Shares %
Malaysian Public 50.04 M 5.0%
Bumiputera shareholders approved by MITI 125.10 M 12.5%
Eligible Directors and employees 50.04 M 5.0%
Private placement to selected investors and others 75.06 M 7.5%
Total Allocations 300.24 M 30.0%

Offer for Sales of 50.04 M existing shares representing 5.0% enlarged shares.

Public Issue of 250.20 M new shares representing 25.0% enlarged shares.

Median Sectors PE: N/A
Median Peers PE:
Utilisation of Proceeds
Purpose Amount (RM'000) %
Expansion Expansion of fabrication facility, storage, office and new R&D centre 28,000 39.97
Expansion Setting up a dedicated R&D centre 1,480 2.11
Expansion Business expansion 4,030 5.75
Expansion Purchase of machineries, equipment and software 2,200 3.14
Working capital Working capital 13,346 19.05
Listing expenses Estimated listing expenses 6,000 8.57
Debt Repayment of borrowing 15,000 21.41
Total 70,056 100
Analyst Highlights
Date Analyst Highlights
28-Nov-2025
TradeView
  • Company is currently awaiting new job wins, indicating potential future growth.
  • FY25 core earnings exceeded expectations by 12% driven by higher revenue recognition from short-cycle orders.
  • 4QFY25 saw more than double revenue QoQ, with core earnings surging 43.7% due to lower administrative expenses and improved operational efficiency.
  • Management is cautiously optimistic about securing new project wins, with some expected to materialize in 1HCY26.
29-Aug-2025
Kenanga
  • Proxy to Wilmar's expansion plan.
30-May-2025
Kenanga
  • SET is a proxy to Wilmar's expansion plan.
Utilisation of Proceeds
Business Segments
Geographical Segments
Major Customers
Profit After Tax (PAT) by Financial Year Ended
SWOT Analysis
No Available Pro Insight yet
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